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Test Bank for Strategic Management Theory An Integrated Approach, Hill, 11e prepares you efficiently for your upcoming exams. It contains practice test questions tailored for your textbook. Strategic Management Theory An Integrated Approach, Hill, 11e Test bank allow you to access q...
1. A strategy can be defined as a set of related actions that managers take to increase their company's performance. a. True b. False ANSWER: True POINTS: I DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.l5.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 2. Strategic leadership is concerned with how to most effectively manage a company's strategy -making process to create competitive advantage. a. True b. False ANSWER: True POINTS: I DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.l5.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 3. To increase shareholder value, managers must try to venture into new markets whether the results are profitable or not. a. True b. False ANSWER: False POINTS: I DIFFICULTY: Moderate LEARNING OBJECTIVES: SMIA.HILL.l5.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 4. A firm obtains competitive advantage when its strategy results in superior performance compared to its competitors. a. True b. False ANSWER: True POINTS: I DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.l5.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Comprehension 5. ROIC is a measure of how efficiently and effectively managers use the capital at their disposal to produce profitability. a. True b. False ANSWER: True POINTS: I DIFFICULTY: Moderate LEARNING OBJECTIVES: SMIA.HILL.l5.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 6. The profit growth of a company can be measured by the increase in net profit over time. a. True b. False ANSWER: True POINTS: I DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.l5.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 7. A business model is managers' conception of how the set of strategies their company pursues should mesh together into a congruent whole, thus enabling the company to gain a competitive advantage and achieve superior profitability and profit growth. a. True b. False ANSWER: True POINTS: I DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.l5.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 8. One of the factors that distinguishes organizations in the nonprofit sector from profit -making businesses is the lack of a need for strategic management. a. True b. False ANSWER: False POINTS: I DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.l5.01.01 - Explain what is meant by "competitive advantage" NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 9. General managers bear responsibility for the overall performance of the company or for one of its major self contained subunits or divisions. a. True b. False ANSWER: POINTS: DIFFICULTY: True 1 Easy LEARNING OBJECTIVES: SMIA.HILL.15.01.02 - Discuss the strategic role of managers at different levels within an organization NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 10. The CEO is a company's principal general manager. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.15.01.02 - Discuss the strategic role of managers at different levels within an organization NATIONAL STANDARDS: United States - BUSPROG: Reflective Thin - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge 11. The final component of the strategic management process is crafting the organization's mission statement, which provides the framework or context within which strategies are formulated. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.15.01.03 -Identify the primary steps in a strategic planning process NATIONAL STANDARDS: United States - BUSPROG: Analytic KEYWORDS: Bloom's: Comprehension 12. The concepts vision and mission can be used interchangeably. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: SMIA.HILL.15.01.03 -Identify the primary steps in a strategic planning process NATIONAL STANDARDS: United States - BUSPROG: Analytic KEYWORDS: Bloom's: Knowledge
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